BESM chapter :4 Economic environment
Privatization – Meaning Privatization refers to the process of transferring the ownership, management, or control of government-owned enterprises, industries, or services to the private sector . It reduces the direct involvement of the government in business activities and increases the participation of private individuals, companies, and investors. In other words, privatization means shifting an enterprise or business activity from public ownership to private ownership or management . It may take place through the sale of government-owned enterprises, sale of government shares, leasing, or private management contracts. The main idea behind privatization is to allow private-sector organizations to operate businesses with greater efficiency, competition, productivity, and commercial orientation . It is commonly adopted to reduce the financial burden on the government, improve the performance of public enterprises, attract private investment, and improve the quality of goods an...